Popular Bitcoin ATM Network Coinsource Expands Operations In New York After NYSDF Approval
Coinsource, A Bitcoin ATM Operator Has Expanded Its Network To Upstate New York
The Coinsource, which has been considered to be one of the largest Bitcoin ATM networks in the market, has just announced their expansion into the Upstate New York market. This move comes just after the approval of virtual currency license that took place in NYSDF, New York State Department of Financial Services. Thus this was able to allow the company to expand to Syracuse, Rochester, Albany, and Buffalo quickly.
With the deployment taking place it has established the Coinsource company as the very first BTM, Bitcoin Teller Machine, which has made it possible to work across some of the major cities that are found in New York.
The Move Has A Lot To Bring To The Market
According to the CEO of Coinsource, Sheffield Clark, they are looking forward to working in the New York market, and they are grateful for the state approval of the virtual currency license, an endorsement that has given them the green light to expand to another state. The company is looking forward to extending their current service offerings, one that has been designed to have a 24/7 customer support for their users.
He goes on to state that the Coinsource was established because they firmly believed in the power that Bitcoin has to offer, plus the accessibility it has been able to offer for individuals whose financial institutions are hindered. With the seal of approval given by the state of New York, it is the companies hope that the New Yorkers will be able to seize this opportunity and access the digital assets in the market.
There Is More To The Coinsource Company
In October, the company had been operating under the provisional license since the year 2015, and from this, it was able to be officially the very first Bitcoin ATM operator in the market, and the 12 company to be formally granted the licenses to operate victual currencies in New York. With the permit, it has allowed the company to easily expanded to the unattached markets, particularly those in upstate New York.
With the move, it has enabled the BTMs to come closer to most campuses that are in Buffalo, Syracuse, and Albany. A clear indication that the company is working towards increasing the current financial access to the citizens that are underbanked.
They are able to provide these individuals with a low-risk medium when investing in the crypto market, thus, being able to bring the BTM to be the forefront of the mainstream adoption of the growing crypto market.
According to Coinsource General Counsel, Arnold Spencer, with the expansion of BTM to more cities and states is a clear indication the regulatory complaint campaign is effective. The company has been ensuring it remains compliant to all the stringent regulations that have been set, a good example to the market that compliance to the set regulation is key to success.
The Coinsource ATM’s Are Promising To The Market
These ATM’s have been designed to be quick and convenient to all its users, the speed of the machine is all thanks to the proprietary system that the company developed, one that is able to conduct the know-your-customer checks in a timely manner.
In other situations, a user would need to send their personal information such as bank details and their proof of identification to the crypto exchanges for verification, but with the Coinsource ATM’s all you would need to provide is your driver's licenses, your cell phone number, and a selfie.
The company has been growing rapidly, as it has over 200 machines and more than 20 employees in just the past three years of being under review. It is clear the company has been able to experience some tremendous growth over the years and has been involved in various expansions while still working towards adding more functionality to their existing machines.